64,694 United Parks & Resorts Inc. $PRKS Shares Bought by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. grew its holdings in United Parks & Resorts Inc. (NYSE:PRKS) by 11.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 627,966 shares of the company’s stock after purchasing an additional 64,694 shares during the period. Pinnacle Associates Ltd.’s holdings in United Parks & Resorts were worth $20,346,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fortitude Family Office LLC boosted its stake in shares of United Parks & Resorts by 30,580.0% during the third quarter. Fortitude Family Office LLC now owns 1,534 shares of the company’s stock valued at $50,000 after purchasing an additional 1,529 shares during the period. GAMMA Investing LLC increased its stake in United Parks & Resorts by 46.7% in the 3rd quarter. GAMMA Investing LLC now owns 2,113 shares of the company’s stock worth $68,000 after buying an additional 673 shares during the period. Farther Finance Advisors LLC increased its stake in United Parks & Resorts by 2,341.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 5,054 shares of the company’s stock worth $164,000 after buying an additional 4,847 shares during the period. WINTON GROUP Ltd purchased a new position in United Parks & Resorts in the 2nd quarter worth about $291,000. Finally, Squarepoint Ops LLC bought a new stake in United Parks & Resorts during the 2nd quarter valued at about $1,868,000.

United Parks & Resorts Trading Down 1.5%

Shares of PRKS stock opened at $31.79 on Wednesday. United Parks & Resorts Inc. has a twelve month low of $28.77 and a twelve month high of $53.28. The stock has a fifty day simple moving average of $37.46 and a two-hundred day simple moving average of $39.94. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 12.52, a P/E/G ratio of 3.03 and a beta of 1.25.

United Parks & Resorts (NYSE:PRKS) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $1.34 EPS for the quarter, missing the consensus estimate of $1.67 by ($0.33). The firm had revenue of $483.32 million for the quarter, compared to analysts’ expectations of $492.10 million. United Parks & Resorts had a net margin of 8.11% and a negative return on equity of 27.85%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.45 EPS. Research analysts predict that United Parks & Resorts Inc. will post 2.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PRKS shares. The Goldman Sachs Group boosted their price objective on shares of United Parks & Resorts from $37.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Mizuho set a $51.00 target price on shares of United Parks & Resorts in a research note on Wednesday, August 5th. Citigroup reduced their target price on shares of United Parks & Resorts from $49.00 to $34.00 and set a “neutral” rating on the stock in a research report on Thursday, October 8th. Guggenheim lifted their price target on shares of United Parks & Resorts from $51.00 to $54.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft set a $55.00 price target on shares of United Parks & Resorts in a research note on Thursday, August 6th. Four investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, United Parks & Resorts presently has a consensus rating of “Hold” and a consensus target price of $45.40.

Insider Activity

In other United Parks & Resorts news, insider James W. Forrester, Jr. sold 1,150 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $35.71, for a total transaction of $41,066.50. Following the transaction, the insider directly owned 26,733 shares in the company, valued at $954,635.43. This represents a 4.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher L. Finazzo sold 6,622 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $44.20, for a total transaction of $292,692.40. Following the transaction, the insider directly owned 123,663 shares in the company, valued at $5,465,904.60. This trade represents a 5.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.70% of the company’s stock.

About United Parks & Resorts

United Parks & Resorts Inc (NYSE: PRKS) is a theme park and entertainment company that owns and operates a portfolio of destination amusement and water parks in the United States. Its properties combine rides, live entertainment, animal exhibits, educational experiences, seasonal events and hospitality-related offerings.

The company’s portfolio includes SeaWorld parks in Orlando, San Antonio and San Diego; Busch Gardens parks in Tampa and Williamsburg, Virginia; Sesame Place parks in Pennsylvania and California; and water parks and attractions such as Aquatica, Adventure Island, Water Country USA and Discovery Cove.